This post originally appeared on RT Business News
Overproduction of parasitic elites has been identified by historian Peter Turchin “as a key element in social disorder that brings down governments and states,” Charles Hugh Smith of OfTwoMinds.com tells RT’s Keiser Report.
When these people get a degree at a fancy college they are “set,” even if they weren’t bright students, they get “a great slot in the upper echelons of American society and economy,” Smith says.
However, he explains that now there are “so many people with advanced degrees from top universities that there’s an oversupply of people with diplomas and credentials and there’s not enough slots for all of them in the top 5%.”
“So, then these people who were promised an easy prosperous life with great security now they are finding that they are adjuncts at some third-rate college, earning like $ 25 thousand a year, and there’s no top government slot for them. So, they are becoming dissatisfied, and because their expectations are so high, they will make political noise,” he says.
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